Bitwise has officially launched the first NEAR Protocol spot ETF in the US market. The product directly holds NEAR tokens and offers staking functionality, providing investors with native token exposure and staking yields. This is the latest move by institutions shifting their focus to alternative Layer-1s following Bitcoin and Ethereum, reflecting the gradual regulatory acceptance of high-quality public chain ETFs.
Which assets are affected
Bullish & Bearish Views
Bulls believe that staking yields combined with the spot ETF will attract continuous inflows from traditional capital, driving a valuation re-rating for NEAR during the altcoin cycle. Bears worry that intense competition among similar Layer-1s and potential fund diversion from the ETF could limit NEAR's independent upside relative to BTC and ETH.